Maiden Lake Cowan Drilling Campaign Showing Promise
Pantoro Limited (ASX:PNR) has hit an intersection of very high grade gold mineralisation from the Sailfish Prospect at Norseman in Western Australia.
- Drilling returned 8.1 m @ 67.29 g/t Au from 78.6 m down hole.
- The intersection included 0.7 m @ 521 g/t and 0.25 m @ 252g/t Au.
- Other significant intercepts include 1.8 m @ 4.25 g/t Au, and 3.5 m @ 2.56g/t Au.
- Confirms historical intersection of 1.5 m @ 461.47 gt/Au, drilled by Western Mining in 1992.
Managing Director, Paul Cmrlec, said the results from the company’s initial eight diamond drillhole programme at the Sailfish prospect on Lake Cowan highlights the immense exploration potential of the project, and in particular the likely presence of further very high-grade mineralisation that Norseman has been known for over many decades.
“Our exploration programmes in these areas are in their very early stages and it is too early to speculate what the results may mean in the context of the broader project.
“Our geology team at Norseman continues to work with our key consultants to better understand the geometry and geological setting within the immediate area ahead of additional drilling.
“We are also working with our drilling contractors to increase the drillhole diameter in order to maximise core recovery in our future programmes.”
Pantoro’s initial diamond drill programme on Lake Cowan was undertaken following a period of extensive historical data review. The historical data was compiled from drilling programmes completed by Western Mining in the early 1990’s. As part of this review a number of historically drilled holes were re-logged with the assistance of Pantoro’s structural geological consultant – Model Earth.
From this work a lithological and structural model was generated to help design a preliminary program of eight diamond holes at Sailfish aimed at gathering additional data to evaluate the next steps. Drilling was designed to test the lode system perpendicular to the interpreted orientation.
Drilling below the lake cover has been challenging with issues around core recovery, however a number of encouraging results including a bonanza intersection in Hole SFDD20_005 drilled proximal to historic hole CWS2 have been returned. Significant results received to date include:
- 8.1 m @ 67.29 g/t Au from 78.6 m downhole inc. 0.7 m @ 521 g/t and 0.25 m @ 252 g/t Au ( including 3.9 m of core loss assigned 0 g/t Au grade).
- 3.5 m @ 2.56 g/t Au from 64 m downhole inc. 0.3 m @ 26.2 g/t Au ( including 1.6 m of core loss assigned at 0 g/t Au grade)
- 1.8 m @ 4.25 g/t Au inc 0.95 m @ 7.71 g/t Au from 171.45 m downhole.
As p art of the lake exploration work that Pantoro is undertaking, review and reprocessing of the extensive geophysical datasets is underway. This work is particularly focussed on the Gravity and Magnetic data in conjunction with the historic multi-element geochemical data.
Additional diamond drilling is also currently underway on another lake anomaly testing another high priority target. Similar to the maiden Sailfish programm3, the current programme will further test an existing anomaly with encouraging historical reconnaissance results. Due to the very high gold grades intersected in hole SFDD20_005 (which has been screen fire assayed), screen fire assay test work will be completed on the lower grade intersections, and it is planned to undertake larger diameter PQ diamond core testing, in an effort to improve core recovery.